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Friday, December 4, 2020

Walt Disney [NYSE: DIS] Cuts Ad Spending On Facebook Inc [NASDAQ: FB]

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The Walt Disney Company [NYSE: DIS] has joined the other companies to cut its advertising spending on Facebook Inc. [NASDAQ: FB]. Other companies like Adidas AG, Unilever Plc, Starbucks Corp. has also slashed its spending on Facebook.

Facebook is facing boycott because of its handling of hate speech and controversial content. Disney has not disclosed the time frame as some companies pushed their sending for a longer period.

Disney has pulled back the advertising of its streaming video service Disney+ on Facebook as the firm is worried about the policies of Facebook against hateful content. Reports also disclosed that Disney has also pulled back the advertising spending for its streaming service from Hulu from Instagram which is Facebook-owned.

Shares of Disney dropped 0.65% at $118.65 during the trading of Friday. In the past 52-weeks of trading, this company’s stock has fluctuated between the low of $79.07 and a high of $153.41. It has a trading volume of 9.82 million as compared to the average volume of 17.07 million.

If we turn our focus on the liquidity, Disney has a current ratio of 0.90 same as the quick ratio. It has a Gross Margin of 36.60%, a Profit Margin of 6.90%, and an Operating Margin of 9.70%.

On the other hand, Facebook shares have traded up 0.46% during the trading of Friday. It has a closing price of $242.03. Facebook has moved up 76.53% and decreased -3.25% from its 52-weeks high. It has a total market cap of 688.50 billion. FB’s return on assets, equity, and investment is 16.30%, 21.50%, and 17.40%, respectively.

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